Woulfe Mining Corp WFEMF

Almonty Industries...from their website...

[chizzles]

Again, not the direction we want to go in but if we have to....an interesting read...at least they seem to make their beat up projects extremely profitable. About Almonty Industries Almonty specializes in acquiring distressed and underperforming operations and assets in tungsten markets. These then benefit from the company’s in-house operating experience and unrivalled expertise. Highly regarded as a hands-on, turnaround investor-operator, Almonty is an expert at overseeing projects regarded as too complex or difficult for the average, pure ‘financial investor’. To date, the results of its acquisitions have been fast and very profitable turnarounds. The company has completed its second turnaround and gone on to purchase its next project. Los Santos Mine Almonty has completed its second optimization, at its Los Santos mine in northern Spain. Almonty acquired the project in September 2011 and has been focused on utilizing its expertise in order to improve operations, reduce costs and raise the tungsten recovery rate. This has been a very successful project, with the company enhancing the production profile of the milling operations and extending the mine life to more than nine years. In turn, Almonty has reduced cash operating costs by over 35% and significantly increased cash flow from operations. Panasqueira Mine Prior to acquiring Los Santos, in 2005, Almonty identified and acquired poorly managed tungsten mining and processing operations located in Panasqueira, Portugal. This was done through its control position in publicly traded, Toronto Venture Exchange company, Primary Metals Inc. (ticker-PMI). As with previous initiatives, Almonty refurbished operations, increased mine life and sold PMI in 2008 to the Japanese metals conglomerate Sojitz for a price of roughly 20x earnings, representing a thirty fold return on investment in three years. Wolfram Camp Mine Almonty completed the acquisition of the Wolfram Camp tungsten/molybdenum mine in September 2014 for $18 million. The company issued 12,209,302 common shares at an implied value of $0.86 per share and issued a $7.5 million convertible debenture with a 2.5-year term, 4% coupon and $1.45 strike price. Almonty believes that there is significant upside potential at the Wolfram Camp Mine and, by utilizing its expertise and knowledge gained from the turnaround of the Los Santos mine, that it will be able to optimize mining operations and tungsten concentrate production in a shorter time frame. The forecast is that once the optimization is complete, this mine will be producing similar levels of tungsten concentrate and cash flow as the company's Los Santos project. Valtreixal Project Following the optimization at Los Santos, Almonty purchased its next tungsten project – Valtreixal – located in northwestern Spain. The company intends to apply its tungsten expertise to make Valtreixal another Almonty success story. Watch this space for more exciting news! Almonty is pursuing other growth opportunities via acquisitions, where it can apply its knowledge and strength in depth to create additional value for all stakeholders. The company’s focus remains on past producing mines, operations that are on care and maintenance, tailings stockpiles and other situations where near-term production and positive cash flow can be achieved. Just trying to help ease the blow a little.

[kilgor]

Chizzles, with the information you posted from Almonty's website, if we were soo distressed, then why would Almonty takeover us instead of merging? Something else is going on..... I would like to know what ownership Dundee has with Almonty and whether this is just another ploy to gain larger ownership of Woulfe.

[chizzles]

Kilgor, good point. Maybe that was part of our negotiating. Maybe our team didn't want to just be taken over for a huge discount. Maybe the merger was at our request. This way, we will still continue to get rewarded as Sangdong goes into production, as well as the other properties owned by Almonty.

[kilgor]

BS (nothing personal Chizzles) !!!..... this proposal is a huge discount. According to the news release, most of management will have a job in the new company, plus Dundee is providing financial advice.  I think our CEO is a puppet and Dundee is pulling all of the strings to gain greater percentage of this company by other means. If IMC wanted out of this deal, they would have recalled

[chizzles]

Trust me Kilgor, I feel the same way you do. It is complete BS and yes, this proposal is at an insane discount. And yes, management will all have new jobs, but wouldn't the value of the millions of shares they own be worth more to them then having a new job? Also, it is good that IMC didn't recall their loan, we didn't have the funds to repay them and we would have been in a lot more

[beltem]

We have been truly shafted by the major shareholders no matter how you look at it. These guys make Damien Reynolds and Wesson look like saints. All the nay sayers on this board are right after all.

[GaiusGermanicus]

Getting aquired or put into a merger is just one of the many dangers of investing in a junior mining company.  I suppose we should be happy we're at least merging with a company that has positive cash flow . . . which is about the ONLY advantage I see in it.

[Markidesad]

I ilke to look at the eventual bright sides ; We were on the verge of a bankrupt, we could add up to 48 % of ALL whitch makes us a big fish to swallow, Sandong will finaly begin te produce and last but not least we will be back on good ol' TSX.

[kilgor]

Well here is a bright side for you to look at......... Sangdong is so valueable that they are putting so much effort into screwing us out of our slice of the pie.